Brewster v. Sime

Citations

• 42 Cal. 139

Syllabus

<p>Weight of Evidence Not Important on Appeal in Case of Conflict.—Though the Supreme Court may consider a judgment of a District Court against the weight of evidence, it will not disturb it on that ground, if there is a substantial conflict of evidence.</p> <p>Owner of Mining Stock Bound by Acts of “ Trustee.”—Where mining stock was placed by the owner in the name of another person, as “trustee,” on the books of the corporation, nothing more appearing, and such trustee hypothecated it to bankers, who had no notice of who the owner was, for moneys advanced by them to him: held, that the owner was bound by the acts of the trustee.</p> <p>Word “Trustee” in Stock Not Notice of Secret Owner’s Equities.—The mere addition of the word “ trustee,” after the name of a person to whom stock is transferred, is not sufficient to put persons dealing with the trustee upon inquiry as to the trustee’s title, nor will it operate as constructive notice of the owner’s equitable right.</p> <p>“Trustee” of Stock may Sell or Hypothecate it.—The mere fact that a person holding the legal title of stock, and apparently having the right of disposition, is styled “trustee,” raises no implication that he has not authority to sell or hypothecate it in the usual course of business.</p>